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Jim Blehm

Team Owner, Realtor® | The Blehm Group | Keller Williams

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1561 W Grand Boulevard , Detroit, MI 48208
$329,900
Est. Payment: $1,698.82/mo
0 Bed
4 Bath
0 Sqft
Status: active | Days on site: 61
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VCR-C15903466 - VCR-C159091383,VCR-C159052275

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Agent profile image
Jim Blehm
Team Owner, Realtor®

House Description

Turnkey, fully renovated triplex offering immediate income potential and attractive investment metrics in one of Detroit's rapidly improving neighborhoods. Located just minutes from Downtown Detroit, New Center, Henry Ford Hospital, Wayne State University, and major freeway access, this multifamily property is ideally positioned for both strong rental demand and long-term appreciation.All three units have been extensively updated with modern finishes, including renovated kitchens featuring quartz countertops, updated cabinetry, and beautifully remodeled bathrooms with quartz surfaces and contemporary fixtures. Investors will appreciate the significant capital improvements already completed, reducing near-term maintenance expenses and enhancing tenant appeal.The property is projected to generate approximately $3,300 per month ($39,600 annually) in gross rental income, with the second-floor unit currently leased at $1,200 per month. The first-floor unit is projected at $1,300 per month and the third-floor unit at $800 per month, providing immediate upside through lease-up of the remaining units.With a projected gross rent multiplier under 9 and estimated cap rate approaching 7%, this property presents a compelling opportunity for investors seeking cash flow, appreciation potential, and a renovated asset requiring minimal additional investment. Whether adding to an established portfolio or entering the multifamily market, this property checks all the boxes for today's investor.Rare opportunity to acquire a fully renovated triplex with strong income potential, modern finishes, and an unbeatable location near Detroit's largest employment, medical, and educational centers. Income-producing property generating $3,250 per month in rental income, with the first floor leased at $1,300/month, the second floor at $1,200/month, and the third floor at $750/month.Buyer and Buyer's Agent to verify all information. BATVAI.

Highlights

Listed by Paul Mychalowych , 248-935-2754 EXP Realty Birmingham , 248-686-0024. MichRIC

Property Type

Multi-Family

Lot/Acreage
0.12

HOA Fee

Year Built

1912

County

Wayne

School District

Detroit

Listing ID

20261038699

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Interior Features

Bedrooms and Bathrooms
  • Bedrooms:0
  • Bathrooms:4
  • Full Bathrooms:
Other:Public

Exterior Features

Principal Interest
$1,699
Taxes
$130
HOA
$0

Home Price

$329,900

Loan Details

30 yrs
6.676%

Down Payment

20%
$65,980
All calculations are estimates and provided by Blueroof360. Today’s Rates provided by Blueroof360. Information and interactive calculators are made available to you only as self-help tools for your independent use and are not intended to provide investment or tax advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.
Monthly Price:
$1,698.82

Principal

Taxes

Principal Taxes HOA Total
Monthly $1,698.82 $130.28 $0.00 $1,829.09
Yearly $20,385.82 $1,563.32 $0.00 $21,949.14
Total $611,574.56 $46,899.60 $0.00 $658,474.16
Lender profile image
Brian Belinger
Loan Originator
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Market insight data is pulled from the same city as the listing being viewed (Detroit, MI).

The schools listed are within a 2-mile radius of the property; however, attendance is not guaranteed. Please contact the local school district to confirm zoning and enrollment options.

Information provided by Southwestern Michigan Regional Information Center, LLC and is deemed reliable but not guaranteed accurate.

Data last updated: 2026-08-03T01:53:30.000Z

© 2026 MichRIC